24 February 2014 Insurance

Lloyd’s claims study to standardise report writing

The Lloyd’s Market Association (LMA) will review the quality of claims management in the Lloyd’s market in a pilot project which will standardise report writing.

The project, which will run in 2014, with a full audit in 2015, will use independent third party providers to audit claims files and review the available software to find common standards of report writing.

“Over the last decade we’ve gone from a paper-orientated claims environment to one built around good technology, the Electronic Claims Files, claims data warehouse and a whole new spectrum of management information. These new capabilities for data and analysis are very exciting. We’re very close to where we need to be to provide a world class service across the board; our aim is for continuous improvement,” said LMA’s claims consultant Gary Bass.

“We’ve been able to improve the whole area of claims in terms of time, data and process and that has predominantly been a shift of culture and standards. Now is the time to take a much closer look at a client centric claims service.

The review will be the first time that the market’s claims handling has been analysed in this way.

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